Itxa/1307/2015 Of Astec Life Sciences Limited v. Commissioner Of Income Tax-Ii, Mumbai

IN THE HIGH COURT OF JUDICATURE AT BOMBAYO.O.C.J. INCOME TAX APPEAL NO. 1307 OF 2015 ASTEC Life Sciences Ltd..AppellantVersus Commissioner of Income Tax-II, Mumbai..Respondent ................... Mr. Jas Sanghavi i/by PDS Legal for the Appellant Mr. Jas Sanghavi i/by PDS Legal for the Appellant Mr. Sham Walve h/f Mr. P.C. Chotaray for the RespondentMr. Sham Walve h/f Mr. P.C. Chotaray for the Respondent ................... CORAM : UJJAL BHUYAN & MILIND N. JADHAV, JJ. DATE : FEBRUARY 1, 2021. P.C.: Heard Mr. Jas Sanghavi, learned counsel for theappellant and Mr. Sham Walve, learned counsel holding brieffor Mr. P.C. Chotaray, learned standing counsel Revenue forthe respondent. 2. This appeal under section 260A of the Income Tax Act,1961 has been preferred by the assessee as the appellantagainst the order dated 27.08.2014 passed by the IncomeTax Appellate Tribunal, 'A' Bench, Mumbai in I.T.A. No. 7028/Mum/2012 for the assessment year 2007-08. 3.The appeal was admitted by this Court on 23.04.2018on the substantial question of law framed in the said order. 4.Today the appeal is before us on a praecipe filed bylearned counsel for the appellant. 5.It is submitted that Parliament has enacted the DirectTax Vivad se Vishwas Act, 2020 (briefly 'the Act' hereinafter)providing for a scheme for resolution of tax disputes.Appellant has filed a declaration under section 3 of the saidAct before the Designated Authority on which had thereafterissued a certificate under section 5(1) of the said Actdetermining the amount refundable to the appellant.However, for passing of the final order under section 5(2) ofthe said Act, appellant is required to withdraw the appeal interms of section 4(3) thereof. Hence, the prayer forwithdrawal of the appeal. 6.Learned counsel for the respondent has no objection tothe prayer made for withdrawal of the appeal. 7.Considering the above, we allow the appellant towithdraw the appeal. Accordingly, the appeal is disposed ofas withdrawn. 8.Refund as per Rules. [ MILIND N. JADHAV, J. ] [ UJJAL BHUYAN, J. ] Digitally signedRavindraby Ravindra M.AmberkarM.Date:Amberkar2021.02.0211:28:56+0530